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Tag Archives: Money Transmitter

Connecticut Forces Global Client Solutions to Make Sure Debt Settlement Companies Are Really Licensed

Global Client Solutions, one of the major escrow companies that handles funds for debt settlement clients, was charged with being an unlicensed money transmitter by the state of Connecticut and then entered into a consent order to resolve the issue. According to the records, on November 30, 2011 Global Client Solutions received a cease and desist letter from the state ... Read More »

Free Debt Relief Industry Regulation and Legislation Tracking

Debt Management Laws

I’m happy to announce today that both consumers and debt relief companies will now have FREE access to debt relief industry compliance, regulation, and legislation resources. This site module for the GetOutOfDebt.org site will give site visitors fee access to be better informed and educated about debt relief industry regulations. In this module you will find: Updates on current debt ... Read More »

Awesome Webinar from National Policy Group on State Money Transmitter Law Compliance for Debt Relief Operations

State Money Transmitter

If you have not had the opportunity to attend the webinar put on by National Policy Group on State Money Transmitter Law Compliance, you should. The free webinar covers issues surrounding the money transmitter law that impact credit counseling groups. The question the webinar posed is if credit counseling agencies need to be licensed as a money transmitter in those ... Read More »

State Money Transmitter Law Compliance for Debt Relief Operations. It’s Free to Attend.

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National Policy Group will host a complimentary two-part Webinar on Tuesday, May 10 and May 17, 2011 at 3:00 PM (ET) on the subject of “State Money Transmitter Law Compliance for Debt Relief Operations”.“ This is a unique program for debt relief agencies and related organizations that receive and disburse consumer funds to understand their compliance obligations as transmitters of ... Read More »

New California Legislation Impacts Debt Management Plan and Debt Settlement Providers

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On September 30, 2010, Governor Arnold Schwarzenegger signed into law California AB 2789, the California Money Transmission Act (the “CA MTA”).1 The CA MTA expands the state’s current regulation and licensure requirements for money transmitters by the Commissioner of the Department of Financial Institutions (the “Commissioner”) by covering domestic money transmitters, including stored value card issuers and, potentially, credit counseling ... Read More »

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